Daily Update: Indian Sponge & Billet Market
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Today, domestic Semi finished market rise marginally over improved demand & the price rise seen in Sponge iron by INR 100-200/MT & Billet by INR 200-500/MT D-o-D.
On 27th Oct, SteelMint's price assessment for induction furnaces billet size 125x125 mm are reported at INR 25,600-27,700/MT (USD 394-426).
While, 78-80 FeM sponge C-DRI price assessment was at INR 16,100-17,500/MT (USD 248-269); prices are ex-plant & excluding GST.
Today (Friday, October 27, 2017) INR to USD exchange rate stood at INR 65.07 & BSE Sensex closed at 33,157 (+10).
Key Market Updates:
1. Today, Jindal Steel & Power receive bids of pellet export deal for about 50,000 MT at around USD 118.75-119/MT, CFR China.
2. RINL, also known as Vizag Steel, has invited a tender for export of 5,504 MT billet (IS2830 grade) & 5,504 MT Wire rod coil to Nepal.
3. In the couple of days Pig iron offers in East region-Durgapur increase sharply by INR 800/MT. The fresh offers by Neo Metaliks are reported at INR 23,200/MT and strong demand assessed at INR 23,000/MT.
4. According to the sources, the Central India (Raipur) based Integrated plants have offers P-DRI at INR 16,000-16,200/MT & INR 18,100-18,300/MT for DR-CLO. Both prices are basic & excluding of GST at 18%.
5. Odisha based furnace owners offering billet domestic at INR 25,600-25,800/MT (394-397) and export offers are prevailing at USD 400/MT (ex-plant).
6. Singhal Steel offers C-DRI at INR 16,500/MT ex plant for Jalna(Maharashtra) based buyers, an official reported. Also added few deals of billet concluded for Raipur at INR 26,200-26,300/MT FoR.
7. BIOP in South India has kept offers unaltered, offering FeM 82 C-DRI lumps at INR 17,100/MT ex-plant, Karnataka.
8. BMM Ispat in Karnataka has offered sponge P-DRI at INR 16,500/MT and Sunvik Steels sponge C-DRI lumps at INR 17,400/MT. Both offers for FeM 80, excluding GST & ex-plant basis.
9. Hyderabad based furnace owner have increased billet offers by INR 500/MT to INR 27,000/MT ex-plant
10. Imported scrap offers to India dropped this week for HMS by USD 10-15/MT, Offers remained almost stable for Shredded scrap W-o-W.
Reference prices as on 27th October 2017
| Particular/Delivery | Size, Grade, Origin | Prices | Min | Max | Change | 1W | 1M | |
| C-DRI | Ex-Durgapur | Mix, FeM 78%, +/-1 | 17,300 | 17,200 | 17,400 | + 100 | 17,200 | NA |
| Ex-Rourkela | Mix, FeM 80%, +/-1 | 16,150 | 16,100 | 16,200 | + 50 | 15,900 | 16,000 | |
| Ex-Raipur | Mix, FeM 80%, +/-1 | 17,500 | 17,400 | 17,600 | + 200 | 16,900 | 16,500 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,800 | 16,700 | 16,900 | 0 | 16,450 | 16,250 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,000 | 0 | 16,700 | 17,000 | |
| P-DRI | Ex-Durgapur | Lumps, FeM 78%, +/-1 | 16,500 | 16,400 | 16,600 | + 100 | 16,400 | NA |
| Ex-Rourkela | Lumps, FeM 78%, +/-1 | 15,200 | 15,100 | 15,300 | + 150 | NA | 14,800 | |
| Ex-Raipur | Lumps, FeM 80%, +/-1 | 16,100 | 16,000 | 16,200 | + 150 | 15,400 | 15,100 | |
| Ex-Bellary | Lumps, FeM 80%, +/-1 | 16,600 | 16,500 | 16,700 | 0 | 16,250 | 16,100 | |
| Ex-Hyderabad | Lumps, FeM 80%, +/-1 | 17,000 | 16,900 | 17,000 | 0 | 16,700 | 17,000 | |
| Ingot | Ex-Mandi Gobindgarh | 3.5 x 4.5 Inch, IS 2830 | 28,650 | 28,650 | 28,700 | + 150 | 28,350 | 28,250 |
| Ex-Durgapur | 3.5 x 4.5 Inch, IS 2830 | 26,500 | 26,400 | 26,600 | + 350 | 26,000 | NA | |
| Ex-Rourkela | 3.5 x 4.5 Inch, IS 2830 | 25,200 | 25,100 | 25,200 | + 100 | 25,200 | 25,100 | |
| Ex-Raipur | 3.5 x 4.5 Inch, IS 2830 | 26,000 | 25,900 | 26,000 | + 250 | 25,450 | 25,850 | |
| Ex-Mumbai | 3.5 x 4.5 Inch, IS 2830 | 27,100 | 27,000 | 27,200 | + 350 | 26,350 | 26,000 | |
| Ex-Chennai | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 26,900 | 27,100 | 0 | 27,000 | 27,000 | |
| Ex-Hyderabad | 3.5 x 4.5 Inch, IS 2830 | 27,000 | 27,000 | 27,000 | + 500 | 26,750 | 26,800 | |
| Billet | Ex-Mandi Gobindgarh | 125x125 mm, IS 2831 | 29,200 | 29,100 | 29,300 | + 200 | 28,800 | 28,700 |
| Ex-Durgapur | 125x125 mm, IS 2831 | 26,900 | 26,800 | 27,000 | + 300 | 26,400 | NA | |
| Ex-Rourkela | 125x125 mm, IS 2831 | 25,600 | 25,500 | 25,700 | 0 | 25,500 | 25,400 | |
| Ex-Raipur | 125x125 mm, IS 2831 | 26,500 | 26,400 | 26,500 | + 200 | 25,950 | 26,200 | |
| Ex-Mumbai | 125x125 mm, IS 2831 | 27,300 | 27,300 | 27,400 | + 300 | 26,550 | 26,200 | |
| Ex-Chennai | 125x125 mm, IS 2831 | 27,500 | 27,300 | 27,700 | 0 | 27,500 | 27,500 | |
| Ex-Hyderabad | 125x125 mm, IS 2831 | 27,000 | 26,500 | 27,000 | + 500 | 26,750 | 26,800 | |
| TMT | Ex-Mandi Gobindgarh | 12MM | 32,600 | 32,400 | 32,800 | + 100 | 32,200 | 32,000 |
| Ex-Durgapur | 12MM | 29,800 | 29,600 | 30,000 | + 100 | 29,600 | NA | |
| Ex-Raipur | 12MM | 29,200 | 29,000 | 29,400 | + 100 | 28,900 | 29,200 | |
| Ex-Mumbai | 12MM | 30,600 | 30,200 | 30,700 | + 500 | 29,900 | 29,700 | |
| Ex-Chennai | 12MM | 31,700 | 31,500 | 31,900 | 0 | 30,900 | 31,500 | |
| Ex-Hyderabad | 12MM | 29,800 | 29,800 | 30,000 | + 300 | 29,750 | 29,800 |
Basic prices in INR/MT & excluding of GST @ 18%
Source: SteelMint Research
